Evaluating only Squid Game Token’s profile at its peak — without knowing the outcome — the model ranked Fraud as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
PRODUCT LAUNCH
October: SQUID token launches; rides Netflix Squid Game hype
PRODUCT LAUNCH
Anti-sell mechanism prevents holders from exiting
PRODUCT LAUNCH
CNN, BBC cover the token's meteoric rise
FUNDING
November 1: price hits $2,861; developers rug pull $3.4M
SHUTDOWN
Token crashes to $0.0007879 in seconds; developers vanish
Full Analysis
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Documented cause
SQUID was an unofficial cryptocurrency launched in October 2021 riding the hype of Netflix's Squid Game. With no affiliation to Netflix or the show's creators, anonymous developers promoted it as a 'play-to-earn' token. The token had a built-in anti-dump mechanism — you couldn't sell without buying 'marble' NFTs. This prevented any selling while buying drove the price from $0.01 to $2,861 in a week. On November 1, 2021, the developers executed a rug pull — converting approximately $3.4 million of the liquidity to their own wallets and deleting all social media accounts. The token price instantly crashed from $2,861 to $0.0007879. CNN, BBC, and major financial outlets had all covered the token's rise, giving it unprecedented mainstream credibility before the fraud.
Lesson
“If a cryptocurrency has a mechanism preventing you from selling, it's not a market — it's a one-way extraction machine. The 'anti-dump' feature is the fraud. CNN covering the price rise does not make the token legitimate.”